Pathstone Holdings LLC Boosts Stake in AAON, Inc. (NASDAQ:AAON)

Pathstone Holdings LLC raised its position in AAON, Inc. (NASDAQ:AAON) by 72.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,356 shares of the construction company’s stock after purchasing an additional 6,869 shares during the quarter. Pathstone Holdings LLC’s holdings in AAON were worth $1,764,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AAON. Vaughan Nelson Investment Management L.P. raised its position in AAON by 106.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,089,070 shares of the construction company’s stock worth $95,010,000 after purchasing an additional 561,195 shares during the period. Blair William & Co. IL purchased a new position in shares of AAON during the second quarter worth approximately $44,934,000. Millennium Management LLC increased its position in shares of AAON by 212.3% during the second quarter. Millennium Management LLC now owns 656,552 shares of the construction company’s stock worth $57,278,000 after acquiring an additional 446,344 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of AAON by 552.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 350,082 shares of the construction company’s stock worth $30,541,000 after acquiring an additional 296,423 shares during the period. Finally, Fred Alger Management LLC purchased a new position in shares of AAON during the second quarter worth approximately $15,700,000. 70.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AAON. Robert W. Baird raised their target price on shares of AAON from $130.00 to $138.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Baird R W raised shares of AAON from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 28th. DA Davidson raised their target price on shares of AAON from $102.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. StockNews.com raised shares of AAON from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Finally, Sidoti downgraded shares of AAON from a “buy” rating to a “neutral” rating and raised their target price for the company from $102.00 to $111.00 in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.00.

AAON Trading Down 3.1 %

Shares of NASDAQ:AAON opened at $136.03 on Thursday. AAON, Inc. has a 1 year low of $61.09 and a 1 year high of $144.07. The firm has a market capitalization of $11.06 billion, a price-to-earnings ratio of 61.87 and a beta of 0.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.06 and a quick ratio of 1.79. The business’s 50 day moving average price is $116.63 and its 200-day moving average price is $95.84.

AAON (NASDAQ:AAON) last posted its quarterly earnings results on Thursday, November 7th. The construction company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.57 by $0.06. The business had revenue of $327.25 million for the quarter, compared to analyst estimates of $315.80 million. AAON had a return on equity of 24.98% and a net margin of 15.78%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 EPS. On average, equities research analysts forecast that AAON, Inc. will post 2.26 earnings per share for the current fiscal year.

AAON Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 29th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend is Friday, November 29th. AAON’s payout ratio is 14.10%.

Insider Buying and Selling at AAON

In other news, VP Stephen E. Wakefield sold 5,750 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $139.86, for a total transaction of $804,195.00. Following the completion of the transaction, the vice president now directly owns 9,920 shares of the company’s stock, valued at approximately $1,387,411.20. The trade was a 36.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gary D. Fields sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $132.03, for a total value of $4,621,050.00. Following the sale, the chief executive officer now owns 64,295 shares of the company’s stock, valued at approximately $8,488,868.85. The trade was a 35.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,967 shares of company stock valued at $6,271,357 in the last three months. 18.55% of the stock is owned by corporate insiders.

AAON Company Profile

AAON, Inc, together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It offers rooftop units, data center cooling solutions, cleanroom systems, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls.